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De Ceuster, Marc, Liam Flanagan, Allan Hodgson, and Mohammad I. Tahir. "Determinants of Derivative Usage in the Life and General Insurance Industry: The Australian Evidence." Review of Pacific Basin Financial Markets and Policies 06, no. 04 (December 2003): 405–31. http://dx.doi.org/10.1142/s0219091503001146.
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Core business and financial market risks are not easily reduced by standard operating procedures in insurance companies. Derivatives theoretically provide a cost effective vehicle to hedge these risks. This paper provides an empirical analysis of the determinants of derivative usage as well as the extent of derivative usage in the Australian insurance industry in both life and general insurance companies for the period 1997–1999. Empirical results for the Australian life insurance industry in general confirm the findings of UK and US based research. However, the Australian general insurance industry does not appear to follow the conclusions of previous literature. Our results indicate that for life insurers, the determinants of derivative usage were size, leverage and reinsurance. For the general insurance industry the determinants were size and the extent of long tail lines of business written. As regards the determinants of the extent of derivative usage, these were size and asset-liability duration mismatches for life insurers. For the general insurance industry the determinants of the extent of derivative usage were size, the extent of long tail lines of business written, and the reporting year.
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Hudayana, Amelia, and Tiwi Nurjannati Utami. "Analysis of Transhipment Policy on Long Line Fisheries Vessels Business Performance." Economic and Social of Fisheries and Marine 005, no. 01 (October 29, 2017): 78–89. http://dx.doi.org/10.21776/ub.ecsofim.2017.005.01.08.
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Riegel, Ulrich. "A BIFURCATION APPROACH FOR ATTRITIONAL AND LARGE LOSSES IN CHAIN LADDER CALCULATIONS." ASTIN Bulletin 44, no. 1 (November 13, 2013): 127–72. http://dx.doi.org/10.1017/asb.2013.27.
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AbstractWe introduce a stochastic model for the development of attritional and large claims in long-tail lines of business and present a corresponding “chain ladder-like” IBNR method which allows the use of claims payment data for attritional and claims incurred data for large losses. We derive formulas for the mean squared error of prediction and apply the method to a German motor third party liability portfolio.
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Raschke, Mathias. "Alternative modelling and inference methods for claim size distributions." Annals of Actuarial Science 14, no. 1 (June 19, 2019): 1–19. http://dx.doi.org/10.1017/s1748499519000010.
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AbstractThe upper tail of a claim size distribution of a property line of business is frequently modelled by Pareto distribution. However, the upper tail does not need to be Pareto distributed, extraordinary shapes are possible. Here, the opportunities for the modelling of loss distributions are extended. The basic idea is the adjustment of a base distribution for their tails. The (generalised) Pareto distribution is used as base distribution for different reasons. The upper tail is in the focus and can be modelled well for special cases by a discrete mixture of the base distribution with a combination of the base distribution with an adapting distribution via the product of their survival functions. A kind of smoothed step is realised in this way in the original line function between logarithmic loss and logarithmic exceedance probability. The lower tail can also be adjusted. The new approaches offer the opportunity for stochastic interpretation and are applied to observed losses. For parameter estimation, a modification of the minimum Anderson Darling distance method is used. A new test is suggested to exclude that the observed upper tail is better modelled by a simple Pareto distribution. Q-Q plots are applied, and secondary results are also discussed.
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Daris, Lukman, Andi Nur Apung Massiseng, Jaya Jaya, and Irsandi Irsandi. "The influence of fishing tools using different feed towards variation of Loligo sp. catches in the Takalar Sea of South Sulawesi, Indonesia." Agrikan: Jurnal Agribisnis Perikanan 14, no. 1 (March 21, 2021): 25–32. http://dx.doi.org/10.29239/j.agrikan.14.1.25-32.
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Fishery is one of the human activities to utilize aquatic resources in fresh, brackish and marine waters. This effort is made to meet the needs of human life for the availability of animal protein for growth and as a source of meeting other economic needs. Fishery business consists of components that are interrelated with one another, namely capture fisheries and aquaculture and supported by marketing and processing of fishery products. One of the fishing gear used by fishermen around the coast is a hand line. The purpose of this study was to find out which light are effective in the operation of hand line fishing gear in Takalar waters. The data collection technique was done by using the trial method (Expermental fishing), by conduction trials using two different lamps, namely LED lights (light emitting diode) and petromax lamps. This research was conducted in Takalar Waters in July-August 2020. The results showed that the size structure of the squid and cuttlefish caught on the LED lights ranged from 6- 27.5 cm, totaling 310 tail, weighing 41.15 kg (69.51%), whilw the size structure of the squid caught in the petromax lamp ranges 9,5-27,6 cm totaling 136 tail, weighing 17.91 kg (30.49%), significantly different from the result of t-student.
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Brenkert, George G. "The Limits and Prospects of Business Ethics." Business Ethics Quarterly 20, no. 4 (October 2010): 703–9. http://dx.doi.org/10.5840/beq201020444.
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ABSTRACT:Business ethics has made important strides over the past decades, but it has also suffered significant failures as witnessed by the long line of business scandals in the past half century. This paper discusses different forms that business ethics has taken in relation to the goal of businesses acting ethically. In the end, it maintains that a major challenge current business ethics faces is the lack of an account of business organizations as they ethically develop and change both individually and systemically within social and political conditions. Even if business ethicists can rationally defend what businesses should be doing, unless we can relate this to how businesses can come to operate in those ways, our normative arguments will lack power, persuasiveness, and effectiveness. Only if we are able to provide this analysis will our normative ethics fulfill the practical task it has taken upon itself.
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Whitehead, Tim, John Preston, and Torben Holvad. "The Whole-Life Impacts of Transport-Charging Interventions on Business Performance: A Time-Marching Framework." Environment and Planning A: Economy and Space 37, no. 5 (May 2005): 877–94. http://dx.doi.org/10.1068/a35166.
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A major concern of business with respect to transport-charging interventions is the context of revenue-investment policy, particularly how the timing of improvements may alter the time lags between fewer car journeys and more public transport journeys, and the problems for business in the intervening periods. The authors present a conceptual framework and case study of the whole-life effects on business performance. The impacts of charging occur as a sequence of gradually interacting changes, rather than as a single set of impacts, and positive amenity effects brought about through revenue hypothecation occur incrementally, taking years to achieve full effect. In the case study, a Delphi panel of business leaders predicted the time-marching effects of workplace-parking levies and road-user charging over a 24-year period in Nottingham. The findings revealed that the temporal nature of hypothecation results in minor fluctuations in performance for some business sectors in the first few years, but that these tail off as benefits gradually overwhelm disbenefits resulting in modest increases in performance for most sectors in the medium to long term. Many local authorities are reluctant to implement charging interventions due to concerns about economic vitality; it is expected that the results will inform policy and future research in this area.
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Carmichael, S. "Business Ethics: The New Bottom Line. A Discussion Paper." British Actuarial Journal 3, no. 5 (December 1, 1997): 1059–75. http://dx.doi.org/10.1017/s1357321700005201.
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This discussion meeting was on the subject of business ethics, with particular reference to the work of actuaries.As an introduction to the meeting, copies of the paper, ‘Business Ethics: the New Bottom Line’, by Sheena Carmichael, were distributed to members of the Institute.Sheena Carmichael is the director of ETHOS, a consultancy dedicated to helping organisations identify and manage ethical issues. She is a research associate at the European Institute of Business Ethics at Nigenrode University in the Netherlands.The paper ‘Business Ethics: the New Bottom Line’, was published in 1995 by Demos, which “is an independent think-tank committed to radical thinking on the long-term problems facing the United Kingdom and other advanced industrial societies.It aims to develop the ideas — both theoretical and practical — that will shape the politics of the 21st century, and to improve the breadth and quality of political debate.” It is a registered charity.The paper has not been reproduced in British Actuarial Journal, but further information can be obtained from:Demos, 9 Bridewell Place, London, EC4V 6AP; telephone: 0171 353 4479; facsimile, 0171 353 4481; email, martin@demos.demon.co.uk
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Zuraida, Syarifah, and Jaliadi Jaliadi. "KOMPOSISI HASIL TANGKAPAN DAN TINGKAT KELAYAKAN USAHA RUMPON PORTABLE DAN RUMPON TRADISIONAL MENGGUNAKAN PANCING ULUR DI PERAIRAN ACEH BARAT." JURNAL PERIKANAN TROPIS 5, no. 1 (April 1, 2018): 47. http://dx.doi.org/10.35308/jpt.v5i1.408.
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FAD in the beginning when fishermen see hordes of pelagic fish congregate naturally around the objects floating on the surface. The level of eligibility criteria is top venture capital investment or long term investment in a particular production. The analysis needs to be done in order to know the development of the business at any given time. Field research conducted in July-August 2016, housed in the waters of West Aceh Meulaboh. Data retrieval is performed using the method of experimental fishing and survey (interview). Data were analyzed with the catch using a descriptive approach. The catch is that caught on portable FAD by using fishing line output with total as many as 622 tail and on traditional FAD as much as 1.171 tail for 30 trip. Portable FAD catches of 34.37% and traditional FAD of 65.63%. The investment required in portable FAD amounting to Rp 51.000.000. Total fixed costs incurred per annum on Rp 15.600.000 portable FAD and cost not fixed at RP 102.240,000. Tradisional FAD cost of Rp 53.000.000. Total fixed costs incurred per year amounting to 15.600.000 and cost is not a fixed amount of Rp 102.240,000. The results of calculations on venture portable FAD retrieved value NPV of Rp 20.137. 984, IRR of 36.86%, Net B/C of 1.39 and PP of 1.99 and on traditional FAD NPV values obtained amounting to 43.773.096, IRR of 60.30%, Net B/C of 1.83, PP amounting to 1.38. Financial analysis using bank rates of 14% by the year 2016. Keywords: Portable FAD, traditional FAD, West Aceh Waters
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Redmond, Janice, Elizabeth Anne Walker, and Jacquie Hutchinson. "Self-employment: is it a long-term financial strategy for women?" Equality, Diversity and Inclusion: An International Journal 36, no. 4 (May 15, 2017): 362–75. http://dx.doi.org/10.1108/edi-10-2016-0078.
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Purpose Becoming self-employed has appeal to both genders. For many women, balancing work and family is a key motivator. However, businesses owned and operated by women are often very small, with limited turnover. This potentially can have disastrous consequences when these women come to retire, unless a solid retirement savings strategy has been considered. The purpose of this paper is to outline many of the issues and implications of a lack of research in this area. Design/methodology/approach Data were collected from 201 small business owners via a convenience sample derived from various databases. The survey was completed on-line and analysed using SPSS. Findings Many self-employed women in Australia have neither enough savings for their retirement, or an actual retirement plan. This is exacerbated by the lack of regulation requiring mandatory contributions into a superannuation (personal pension) fund by small business owners, unlike pay as you go employees, whose employers must contribute a certain about on their behalf. Social implications Middle-to-older aged women are the biggest cohort of homeless people in Australia. This is likely to grow as self-employed Baby Boomers stop working and find they do not have sufficient personal financial resources to fund their retirement. Originality/value Whereas there is much written about gender and small business ownership, as well as retirement and savings planning, these two areas have not been researched before in Australia. Yet it is an issue for the majority of small business owners, particularly women.
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El Badraoui, Khalid, and Jamal Ouenniche. "The Long-Run Performance Following Convertible Debt Offerings: Does The Design Matter?" Journal of Applied Business Research (JABR) 30, no. 3 (April 24, 2014): 883. http://dx.doi.org/10.19030/jabr.v30i3.8573.
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<p>This paper examines the impact of convertible debt design on the long-run stock price performance of the issuing firms in France. More specifically, we divide French convertible bonds (CBs) into three categories; namely, debt-like, mixed, and equity-like CBs, based on their total conversion probability, which integrates the possibility of early exercise of the call feature. In line with previous empirical studies, our results show that French CB issuers experience a substantial increase in their stock price profitability before the offering followed by significant under-performance over the three year post-issue event window. However, the breakdown of our sample into three groups of CBs depending on their design reveals, on one hand, a strong evidence of stock price run-up before the offering only for equity-like and mixed CBs. On the other hand, the post-issue performance is worse only for equity-like issuers, indicating that the post-issue performance is poorer the more the convertible debt issuer's stock is over-valued prior to the offering. This finding is consistent with the market timing hypothesis.</p>
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Suwandani, Ria Novita, and Yogo Purwono. "Implementation of Gaussian Process Regression in Estimating Motor Vehicle Insurance Claims Reserves." Journal of Asian Multicultural Research for Economy and Management Study 2, no. 1 (February 11, 2021): 38–48. http://dx.doi.org/10.47616/jamrems.v2i1.77.
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This study aims to calculate the allowance for losses by applying Gaussian Process regression to estimate future claims. Modeling is done on motor vehicle insurance data. The data used in this study are historical data on PT XYZ's motor vehicle insurance business line during 2017 and 2019 (January 2017 to December 2019). Data analysis will be carried out on the 2017 - 2019 data to obtain an estimate of the claim reserves in the following year, namely 2018 - 2020. This study uses the Chain Ladder method which is the most popular loss reserving method in theory and practice. The estimation results show that the Gaussian Process Regression method is very flexible and can be applied without much adjustment. These results were also compared with the Chain Ladder method. Estimated claim reserves for PT XYZ's motor vehicle business line using the chain-ladder method, the company must provide funds for 2017 of 8,997,979,222 IDR in 2018 16,194,503,605 IDR in 2019 amounting to Rp. 1,719,764,520 for backup. Meanwhile, by using the Bayessian Gaussian Process method, the company must provide funds for 2017 of 9,060,965,077 IDR in 2018 amounting to 16,307,865,130 IDR, and in 2019 1,731,802,871 IDR for backup. The more conservative Bayessian Gaussian Process method. Motor vehicle insurance data has a short development time (claims occur) so that it is included in the short-tail type of business.
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Al-Mohammad, Samer, Mamoun Akroush, and Abdelhadi Lutfi Odetallah. "Marketing culture and business performance." Marketing Intelligence & Planning 32, no. 7 (September 30, 2014): 794–822. http://dx.doi.org/10.1108/mip-08-2013-0127.
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Purpose – The purpose of this paper is to examine the validity and reliability of marketing culture measurement scale developed by Webster (1990, 1993) in the context of Jordanian tourism restaurants industry. Further, the paper aims to assess the impact of marketing culture, and its dimensions, over Jordanian restaurants performance. Design/methodology/approach – A structured and self-administered survey was employed targeting managers and employees of tourism restaurants operating in Jordan. A sample of 334 of tourism restaurants managers and employees were involved in the survey. A series of exploratory and confirmatory factor analyses were used to assess the research constructs dimensions, unidimensionality, validity, and composite reliability. Two structural path models analyses were also used to test the hypothesized relationships of the research model. Findings – The empirical findings indicate that marketing culture dimensions are found to be seven rather than six dimensions as proposed by the original model; service quality, interpersonal relationships, management-front-line interaction, selling task, organization, internal communication, and innovativeness. A new dimension is found, named as management-front-line interaction, which exerted a positive and significant effect on restaurants performance. The structural findings indicate that the marketing culture “construct” has a positive and significant effect on restaurants performance, meanwhile only three out of seven of its dimensions exerted a positive and significant effect on restaurants performance; innovativeness, management-front-line interaction, and organization, respectively. Research limitations/implications – Theoretically, the author examined only seven components of marketing culture; meanwhile there could be other factors of marketing culture, or other organizational factors, that may affect restaurants performance. Empirically, the research has also examined the effect of marketing culture on restaurant financial performance only. Further, the research is industry limited; tourism restaurants in Jordan. Accordingly, the findings cannot be generalized to other service industries without further examination. Practical implications – Tourism restaurants managers should recognize that marketing culture is not simply a number of dimensions that shape it rather; it is a complex organizational phenomenon that affects performance. Marketing culture is a multidimensional construct that consists of seven dimensions not just six as proposed by the original model. Tourism restaurants managers and executives can benefit from the research findings while designing their marketing culture strategies to achieve long-term performance objectives. Originality/value – This is the first research effort devoted to reveal the marketing culture dimensions and examine their effect on tourism restaurants performance in Jordan. Executives and managers can benefit from the research findings to enhance their marketing culture strategies to achieve long-term objectives. International tourism restaurants planning to expand their operations in Jordan's tourism industry have now empirical evidence concerning the marketing culture dimensions and their effect on performance.
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Guevara-Alarcón, William, Hansjörg Albrecher, and Parvez Chowdhury. "ON MARINE LIABILITY PORTFOLIO MODELING." ASTIN Bulletin 50, no. 1 (December 13, 2019): 61–93. http://dx.doi.org/10.1017/asb.2019.36.
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AbstractMarine is the oldest type of insurance coverage. Nevertheless, unlike cargo and hull covers, marine liability is a rather young line of business with claims that can have very heavy and long tails. For reinsurers, the accumulation of losses from an event insured by various Protection and Indemnity clubs is an additional source for very large claims in the portfolio. In this paper, we first describe some recent developments of the marine liability market and then statistically analyze a data set of large losses for this line of business in a detailed manner both in terms of frequency and severity, including censoring techniques and tests for stationarity over time. We further formalize and examine an optimization problem that occurs for reinsurers participating in XL on XL coverages in this line of business and give illustrations of its solution.
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Shah, Gyanshyam Prasad, and Radhe Shyam Pradhan. "Determinants of Profitability in Nepal Oil Corporation." Journal of Advanced Academic Research 2, no. 2 (February 11, 2017): 66–75. http://dx.doi.org/10.3126/jaar.v2i2.16607.
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Profitability is the primary goal of all business organization. Without profitability the business will not survive in the long run. So measuring current and past profitability is very important. Profitability is measured by income and expenses where as income is generated from the activities of the business. This study aims to analyze the microeconomic and macroeconomic factors of profitability in the context of Nepal Oil Corporation. Regression analysis was used to determine the determinants of profitability. The results showed that operating cost and interest rate have a negative impact on profitability where as Gross domestic product, Inflation and size have a positive impact on profitability. This implies that the profitability of Nepal Oil Corporation depends on macroeconomic factors and microeconomic factors. The positive relationship between gross domestic product and profitability is in line with theory. Thus government policies on employment and investments should be intensified to increase the profitability of Oil Corporation. Inflation seemed to have been a positive influence on profitability; high inflation may generally be undesirable. The result suggests that probably the managers are accurately predicting inflation and are able to adjust their lending rates accordingly. Low inflationary regimes create stable economy and a congenial investment climate for business, enabling businesses to pursue long term project critical to their survival and growth.
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Yao, Baozhen, Qingda Cao, Lu Jin, Mingheng Zhang, and Yibing Zhao. "Circle Line Optimization of Shuttle Bus in Central Business District without Transit Hub." PROMET - Traffic&Transportation 29, no. 1 (February 14, 2017): 45–55. http://dx.doi.org/10.7307/ptt.v29i1.2015.
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The building density of Central Business District (CBD) is usually high. Land for a bus terminal is insufficient. In this situation, passengers in CBD have to walk far to take a bus, or take a long time to wait for a taxi. To solve this problem, this paper proposes an indirect approach: the design of a circle line of shuttle bus as a dynamic bus terminal in CBD. The shuttle bus can deliver people to the bus station through a circle line. This approach not only reduces the traffic pressure in CBD, but also saves travel time of the passenger. A bi-objective model is proposed to design a circle line of a shuttle bus for CBD. The problem is solved by non-dominated sorting genetic algorithm (NSGA-II). Furthermore, the Dalian city in China has been chosen as the case study to test the proposed method. The results indicate that the method is effective for circle line optimization of shuttle bus in central business district without a bus terminal.
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Thang, Vu Chien. "POLICY MEASURES FOR VIET NAM TOURISM IN RESPONSE TO IMPACTS OF COVID-19." VNU Journal of Foreign Studies 36, no. 6 (December 31, 2020): 197. http://dx.doi.org/10.25073/2525-2445/vnufs.4639.
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While the global community is taking urgent measures to overcome difficulties for production and businesses and ensure social security in response to the Covid-19 pandemic, Vietnam tourism industry needs to develop policy measures to minimize economic recession. Based on the research documents of international development organizations on developing policy measures for socio-economic recovery and case studies in Asian countries when the pandemic outbreaks in the region and the world, we propose policy measures to manage Vietnam destination as a national tourism destination. Given the impacts by Covid-19 pandemic, the policy measures addressed in this paper are divided into 3 groups: (1) support businesses to minimize economic losses in order to best promote the tourism business models in pandemic situations; (2) promote tourism stimulus programs and public-private partnerships; and (3) restructure tourism businesses and proper business management models for a new normal situation, in line with Sustainable Development Goals in the long term.
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Sofronov, V. A., and S. M. Maksimova. "Directions for optimizing business sustainability management in the digital economy (motivation and efficiency)." Normirovanie i oplata truda v promyshlennosti (Rationing and remuneration of labor in industry), no. 2 (February 25, 2021): 36–44. http://dx.doi.org/10.33920/pro-3-2102-05.
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Business development and increased competition in the main capital-intensive markets have long shown that managing a modern enterprise without automating business processes will inevitably lead to a loss of sales growth and, in the future, the loss of a separate line of business. ERP-systems have become quite widespread in Russia, which are being implemented by a wide range of companies, mainly medium and large, the ultimate goal of such industries is to effectively perform the functions of processing material supplies and managing reserves.
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Mbira, Leonard, and Mbongiseni Ncube. "Promoting Business Inclusivity for Sustainable Livelihoods among the Zimbabwean Poor." Journal of Economics and Behavioral Studies 10, no. 1(J) (March 15, 2018): 224–33. http://dx.doi.org/10.22610/jebs.v10i1(j).2105.
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The Zimbabwean economy has nose-dived since the long decade era of hyperinflation resulting in serious economic depression, extreme poverty and unemployment. Regrettably, lack of an entrepreneurial culture has become a huge obstacle to the resuscitation of the economy. Developing inclusive business models incorporating livelihood opportunities for social bottom line has long been suggested as the solution for economically distressed less developed nations facing high levels of unemployment. This study sought to explore factors that disincentivise Zimbabweans from seeking and initiating value creating business opportunities that are low income inclusive and further presents strategies to infuse an entrepreneurial investment culture. It adopts the survey design approach in collection of data. The study identifies lack of skills and knowledge, lack of access to financial markets, unfavorable business environment and regulatory system, perceived high risk and poor infrastructure as the main impediments to the integration of the poor communities in to the value chain.
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Mbira, Leonard, and Mbongiseni Ncube. "Promoting Business Inclusivity for Sustainable Livelihoods among the Zimbabwean Poor." Journal of Economics and Behavioral Studies 10, no. 1 (March 15, 2018): 224. http://dx.doi.org/10.22610/jebs.v10i1.2105.
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The Zimbabwean economy has nose-dived since the long decade era of hyperinflation resulting in serious economic depression, extreme poverty and unemployment. Regrettably, lack of an entrepreneurial culture has become a huge obstacle to the resuscitation of the economy. Developing inclusive business models incorporating livelihood opportunities for social bottom line has long been suggested as the solution for economically distressed less developed nations facing high levels of unemployment. This study sought to explore factors that disincentivise Zimbabweans from seeking and initiating value creating business opportunities that are low income inclusive and further presents strategies to infuse an entrepreneurial investment culture. It adopts the survey design approach in collection of data. The study identifies lack of skills and knowledge, lack of access to financial markets, unfavorable business environment and regulatory system, perceived high risk and poor infrastructure as the main impediments to the integration of the poor communities in to the value chain.
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MONTI, DANIEL J., ANDREA D. RYAN, CANDIDA BRUSH, and AMY GANNON. "CIVIC CAPITALISM: ENTREPRENEURS, THEIR VENTURES AND COMMUNITIES." Journal of Developmental Entrepreneurship 12, no. 03 (September 2007): 353–75. http://dx.doi.org/10.1142/s1084946707000721.
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Entrepreneurs and everyday businessmen and women have long engaged in different kinds of civic-minded activities. This study explores ways that urban entrepreneurs and managers engage in civic activities while pursuing business growth. In this preliminary analysis of owners and managers who have participated in a technical assistance program geared for entrepreneurs who are ready to take their existing venture "to the next level", we identify a kind of entrepreneur whose business model incorporates a social mission. These are not "social entrepreneurs" who engage in business practices in order to push their social agenda. Nor are they mimicking businesses that follow a "corporate social responsibility" model because they were shamed into it or believe it will be good for their bottom line. These are people whose ventures must make a profit if their social mission is to be achieved. They run what we call a "civic enterprise". Their behavior reflects a kind of "civic-minded capitalism".
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Fernández-Roca, FCO Javier, Jesús D. López-Manjón, and Fernando Gutiérrez-Hidalgo. "Family Cohesion as a Longevity Factor of Business with Intergenerational Transmission." Enterprise & Society 15, no. 4 (December 2014): 791–819. http://dx.doi.org/10.1017/s1467222700016116.
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This article contributes to a line of research in Business History that aims to determine the factors of family business longevity in the long term with the study of individual cases. The literature has identified family cohesion as one of the essential factors for survival. Cohesion may be reinforced or broken at the time of the intergenerational transfer. This study finds that a critical response on the part of the business family to the difficulties associated with intergenerational transfer of control, including modifications to the original plan, is usually based on trust between generations. Within the business family cohesion facilitates intergenerational transfers and, consequently, allows the family to evolve and transform itself into a business dynasty.
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Bauer, Keldon, and Omar A. Esqueda. "Credit ratings, relationship lending and loan market efficiency." Studies in Economics and Finance 34, no. 1 (March 6, 2017): 122–42. http://dx.doi.org/10.1108/sef-06-2016-0149.
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Purpose Using the small-business loan market, this paper aims to test whether a structural shift in access to borrowers’ financial information (i.e. credit ratings) improves market efficiency, thereby improving entrepreneurs’ access to external capital. Design/methodology/approach This research uses the National Survey of Small Business Finance in a conditional logistic regression framework to tease out the marginal propensity to grant lines of credit given the firm’s credit rating – treating both of the events, namely, line of credit and credit ratings, as endogenous variables. This methodology overcomes potential reverse causality issues. Findings The results show that information brokers have allowed small firms to break away from long-term monopolistic lending relationships, thus contributing to more informationally efficient markets. Small businesses benefit from better-informed lenders by having better access to capital. Also, women appear less likely to receive a line of credit even after adjusting for credit ratings. Practical implications This research highlights the importance of credit report awareness/monitoring by entrepreneurs, as the small-business credit rating grows rapidly. Relationship lending is not enough to reach optimal financing costs. These papers call for more regulated credit ratings industry to reduce potential moral hazards. Originality/value This paper tests whether bank lending relationships (soft information) still matter after accounting for credit ratings (hard information). Additionally, this study measures the extent to which information sharing by data services bureaus, a proxy for informational efficiency, has increased allocation efficiency in the small-business loan market.
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Chen, David M., and Li-Ling Yang. "An Empirical Test of a Resources Deployment Portfolio (RDP) Approach to Business Group ROE Decomposition." Review of Pacific Basin Financial Markets and Policies 12, no. 04 (December 2009): 695–720. http://dx.doi.org/10.1142/s0219091509001812.
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This study proposes a resources deployment portfolio (RDP) approach to decomposing return on equity (ROE) for business analysis. The five components are return on operating equity (RoOE), return on financial equity (RoFE), return on other equity (RoXE), return on influencing equity (RoIE), and R&D intensiveness (R&DI). Empirical results demonstrate that RDP decomposition offers substantial improvement over DuPont decomposition in explaining market valuation. Confirming the perceived sustainability, RoOE is the most consistently significant component for both long-term and short-term value creation. In line with prior research findings, R&DI is generally significant in contributing to long-term value creation but is not significant for short-term value creation.
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Arif, Imtiaz, and Tahir Suleman. "Terrorism and Stock Market Linkages: An Empirical Study from a Front-line State." Global Business Review 18, no. 2 (March 16, 2017): 365–78. http://dx.doi.org/10.1177/0972150916668604.
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This article investigates the impact of prolonged terrorist activities on stock prices of different sectors listed in the Karachi Stock Exchange (KSE) by using the newly developed terrorism impact factor index with lingering effect (TIFL) and monthly time series data from 2002 (January) to 2011 (December). Johansen and Juselius (JJ) cointegration revealed a long-run relationship between terrorism and stock price. Normalized cointegration vectors are used to test the effect of terrorism on stock price. Results demonstrate a significantly mixed positive and negative impact of prolonged terrorism on stock prices of different sectors and show that the market has not become insensitive to the prolonged terrorist attacks.
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Döpke, Jörg, Ulrich Fritsche, and Gabi Waldhof. "Theories, Techniques and the Formation of German Business Cycle Forecasts." Jahrbücher für Nationalökonomie und Statistik 239, no. 2 (April 24, 2019): 203–41. http://dx.doi.org/10.1515/jbnst-2018-0018.
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Abstract We report results of a survey among active forecasters of the German business cycle. Using data for 82 respondents from 37 different institutions, we investigate what models and theories forecasters subscribe to and find that they are pronounced conservative in the sense that they overwhelmingly rely on methods and theories that have been well-established for a long time, while more recent approaches are relatively unimportant for the practice of business cycle forecasting. DSGE models are mostly used in public institutions. In line with findings in the literature there are tendencies of “leaning towards consensus” (especially for public institutions) and “sticky adjustment of forecasts” with regard to new information. A stable relationship between preferred theories and methods and forecast accuracy cannot be established.
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Hadjikhani, Amjad, Joong Woo Lee, and Sohee Park. "Corporate social responsibility as a marketing strategy in foreign markets." International Marketing Review 33, no. 4 (July 11, 2016): 530–54. http://dx.doi.org/10.1108/imr-03-2014-0104.
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Purpose – The authors are witnessing the increasing extent of corporate social responsibility (CSR) performance as strategic behaviour specifically in emerging markets. The purpose of this paper is to investigate how multinational companies (MNCs) manage CSR activities in emerging markets to aid their core business activities. In line with this question, the paper aims to develop a theoretical view for deeper understanding of the strategy in CSR practices aiding internationalization. The view is based on a business network perspective highlighting the four concepts of learning, commitment, legitimacy and trust. Design/methodology/approach – The methodology employed is qualitative, based on interviews with involved parties. The case study is about the experiences of a Korean MNC’s CSR strategy when entering into the Chinese electronics industry. Findings – The case illustrates how the Korean MNC committed resources to gain trust and legitimacy that improved their market position. It further manifests that the firm’s CSR strategy was proactive because of the large commitment in several long- and short-term projects towards the society. Investment in social issues like education, environmental problems and communities aided the firm’s entry. Research limitations/implications – The study has a qualitative and in-depth nature. Future research is needed in order to generalize the proposed theoretical frame. Practical implications – The study manifests how a MNC employs CSR strategy for internationalization in a foreign market. It shows how managers can undertake different practical CSR measures to enter and expand in foreign markets. Social implications – While internationalization of firms is mainly based on their business commitment towards counterparts or business firms, the study shows how CSR strategy and activities towards the society support their businesses. Originality/value – While internationalization of firms is mainly based on their business commitment towards counterparts or business firms, the study shows how CSR strategy and activities towards the society support their businesses. The study investigates CSR strategy and enlightens activities like education and environmental problems. The study further develops the business network view and includes social aspects. The theoretical view holding the four relationship elements of trust, knowledge, legitimacy and commitment permits deeper understanding of the MNC’s proactive CSR behaviour in new markets.
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Mirbagherijam, Mohammad, Mohammad Nabi Shahiki Tash, Gholamreza Zamanian, and Amir Safari. "Aggregation of underwriting risks in insurance industry of Iran using vine copula." Risk Governance and Control: Financial Markets and Institutions 5, no. 4 (2015): 149–61. http://dx.doi.org/10.22495/rgcv5i4c1art4.
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In this paper, the underwriting risks of the insurance industry of Iran were aggregated using various vine copula classes and historical data of loss ratios which corresponds to each business line. The estimated economic capital (EC) for the entire insurance industry considerably varies across different risk measures and vine copula models. In addition, less than the risk-based capital (RBC) charge assessed based on the standard model of RN69 and amounted to 96,943,391 million of Iran Rials. Therefore, it was concluded that using the Vine copula method and allowing symmetry and tail dependence for pairs of business lines’ risks in the risk aggregation process leads to overestimation of the RBC risk charge, as compared to the estimated results of simple and linear aggregation methods of such standard model. Furthermore, the choice of dependency structure and risk measures have a paramount effect on the aggregate economic capital. Highlights: Estimated aggregated economic capital varies across different risk measures and vine copula models; Selecting the appropriate copula model is an important consideration in risk aggregation process; Using the Vine copula method in the risk aggregation leads to overestimation of the RBC risk charge; The estimated economic capital is less than RBC risk charge calculated under standard model of RN69.
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VAN ES, ROB, and HENK VAN DER WAL. "INNOVATION IN SMEs: A RACE WITH NO FINISH LINE." International Journal of Innovation Management 16, no. 05 (October 2012): 1250027. http://dx.doi.org/10.1142/s1363919612500272.
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This article describes the results of our long-term study into the innovative behavior of fifteen Dutch small and medium-size enterprises (SMEs) that were considered promising in 1985. We asked ourselves the following two questions: (i) How did these companies develop while aiming for their innovation domain? (ii) What do the entrepreneurs perceive as the defining moments in this development? As a general answer to the first question, we concluded that the innovative behavior of the companies essentially consisted of: technical and business process optimization, new types of collaboration, and renewing competencies and developing a fitting strategy. In short, we found that the non-technical innovation domains had greatly gained in importance. The answers to the second question showed us that corporate development was strongly affected by tensions related to growth, shifts in control over the company, and management. In most cases, such tensions negatively affected innovation.
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Yunus, Mohammad, and Mohammad Toufiqur Rahman. "Green Marketing for Creating Awareness for Green Consumerism." Global Disclosure of Economics and Business 3, no. 1 (June 30, 2014): 17–22. http://dx.doi.org/10.18034/gdeb.v3i1.167.
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Green businesses are enterprises which consider environmental protection as an essential component for their long-term business objectives, both by promoting eco-efficient production activities and by marketing sustainable products and services (Barnes, n.d.). Green products may be defined as products or services that have a lesser or reduced bad effect on human health and the environment when compared with competing products or services that serve the same purpose (Website). The purposed of green business are (i) to promote more socially inclusive development (ii) to reduce environmental degradation (iii) to mitigate the effects of climate change (iv) to deal with pressures of population growth (v) to manage, issues of increased scarcity and volatile prices of raw materials effectively. Examples of green product are compact fluorescent lamps (CFLs), which use 75% less energy than ordinary incandescent ones, organic foods, which are grown and processed without antibiotics, pesticides, or synthetic fertilizers, hybrid electric vehicles such as the Toyota Prius, which achieves a fuel economy of 48 city-mpg and 45 highway-mpg (Website)., and green hotels, which are trying to conserve water, energy, and materials usage (Sharkey, 2008). Green business in practically existent everywhere around us. Company such as Wal-mart and General Electric transforming their business practices into green ones (Yeganeh & Glavas, 2008). In a study conducted by MeKinsey of 4,238 business executives in 116 countries, 84% believed that business should contribute to the public good; however, only 3% believe that their companies are currently doing a good job (McKinsey, 2006). Thus, green business is an enterprise that has no negative impact on the (i) environment (ii) economy (iii) society (iv) community. Further, it meets the requirement of the triple bottom line such as financial benefits of the company, natural world betterment and social advantages for employees and members of the local community. The triple bottom line gives importance on initial value instead of the after effects.
JEL Classification Code: M31; Q13; P46
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Zhang, Min, Qing Shan Li, Peng Yu, Li Feng Chen, Jian Jiao, and Ming Li. "Evaluation Standards and the Distribution Concentration of Air Anion in Dalian, China." Advanced Materials Research 96 (January 2010): 271–76. http://dx.doi.org/10.4028/www.scientific.net/amr.96.271.
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In order to construct a coastal eco-city, where is suitable to live, to do business and tour, and utilize fully the advantage of high anion in the air of Dalian coast, seven evaluation criteria system of air anion were proposed. Systematically observed the anion concentration of Qinhuangdao, and made it standardized, systematic and long-time, we observed the anion concentration of the coastal line, Square line in the urban and some scenic spots of Dalian on August 2009, then proposed the concept of building the Health Great Wall and bringing anion to home.
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CHIEN, DOH JOON, TAN WEE LIANG, and CHIONG TECK SOON. "ENTREPRENEURSHIP INCLINATION OF SINGAPORE BUSINESS STUDENTS." Journal of Enterprising Culture 04, no. 02 (June 1996): 209–23. http://dx.doi.org/10.1142/s0218495896000125.
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This paper presents the partial findings of our study into the intention of tertiary students in Singapore in becoming entrepreneurs. The research is undertaken as a preliminary step in understanding whether students upon graduation prefer to start a business of their own or prefer to be employees, and the forces which have contributed toward the shaping of their inclination. A survey was conducted on graduating Business students in the School of Accountancy and Business, Nanyang Technological University. The research findings indicate that in the Singapore sample, the percentage of graduating students with entrepreneurial inclination was higher than in other countries. The findings are encouraging for Singapore as they indicate that entrepreneurial aspiration is strong among the sample of Business students. However, this should not be the basis for complacency as experience elsewhere has indicated that, if left on their own, not many of them would actually go into business. To increase the rate of graduates starting their own business, a supportive infrastructure needs to be developed. One approach is to set up a start-up business centre. Such an infrastructure will not only broaden the career options for graduates, but will also, in the long run, contribute to the development of a core of entrepreneurs who have the knowledge and expertise to spearhead complex and technologically oriented enterprises in line with Singapore’s emphasis on regionalisation and internationalisation of business.
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Hanif, Hanif. "A Critical Analysis of Startup Business in Indonesia by Means of Mato-Based Profit Sharing Accounting." Accounting and Finance Review (AFR) Vol.2(2) Apr-Jun 2017 2, no. 2 (March 12, 2017): 42–49. http://dx.doi.org/10.35609/afr.2017.2.2(6).
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Objective - This research aims to analyze and deconstruct digital-based startup business practice and offer a new concept of sharing economy. The online transportation companies operated in Indonesia, have been selected as the subject of the research. Methodology/Technique - A critical paradigm referring to mato-based profit sharing accounting was used as a method of the research. Data was collected from online transportation companies'websites as well as either news or media article published on mass media. Findings - On the other side, it has not completely been in line with the practice of profit sharing economy concept which has long been the ideal of the constitutional ideology of Indonesia. Thus, in the final section of this research, a new concept of sharing economy, which is relatively in line with the constitutional ideology of Indonesia is proposed for practice in startup companies. Novelty - The study proposes new concept of sharing economy for startup business. Type of Paper: Review Keywords: Incentive; Startup Business; Sharing Economy; Profit-Sharing; Mato System; Constitutional Ideology. JEL Classification: M13, M21, M41.
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Malik, Afia, and Ather Maqsood Ahmed. "The Relationship between Real Wages and Output: Evidence from Pakistan." Pakistan Development Review 39, no. 4II (December 1, 2000): 1111–26. http://dx.doi.org/10.30541/v39i4iipp.1111-1126.
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Information on wage levels is essential in evaluating the living standards and conditions of work and life of the workers. Since nominal wage fails to explain the purchasing power of employees, real wage is considered as a major indicator of employees purchasing power and can be used as proxy for their level of income. Any fluctuations in the real wage rate have a significant impact on poverty and the distribution of income. When used in relation with other economic variables, for instance employment or output they are valuable indicators in the analysis of business cycles. There has been a long debate regarding the relationship between real wages and the employment (output). Despite the apparent simplicity, the relationship between real wages and output has remained deceptive both theoretically and empirically. Keynes (1936) viewed cyclical movements in employment along a stable labour demand schedule thus indicating counter cyclical real wages. His deduction is in line with sticky wages and sticky expectations, which augments models like Phillips curve. In these models real wages behaved as counter-cyclical as nominal wages are slow to adjust during recession (decrease in aggregate demand and associated slowdown in price growth). Stickiness of wages or expectations shifts the labour supply over the business cycles [Abraham and Haltiwanger (1995)]. Barro (1990) and Christiano and Eichenbaum (1992) have associated these labour supply shifts with intertemporal labour-leisure substitution. This in response to temporary changes in real interest rates (fiscal policy shocks) could yield counter-cyclical real wages. However, Long and Plosser (1983) and Kydland and Prescott (1982) while studying the real business cycle models highlight on the technology shocks which leads to pro-cyclical real wages.
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Dymarczyk, Waldemar. "Spatial and Temporal Dilemmas of Managers and Entrepreneurs. The Reconstruction of Neutralization Techniques." Qualitative Sociology Review 16, no. 4 (October 31, 2020): 36–51. http://dx.doi.org/10.18778/1733-8077.16.4.03.
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It is often assumed (in line with social expectations) that being a business manager and/or owner implies the feeling of omnipotence. Not only do organizational leaders run businesses, but they are also qualified to do so and are well-organized to physically and mentally cope with their duties. Thus, permanent (external and internal) pressure forces key organizational actors to use self-presentation strategies that meet social expectations.
Narratives of organizational leaders show that other aspects of their lives are subdued to the sphere of business activities or are even incorporated by it. One of the most dominant strategies is to present oneself as an inner-directed individual in control of one’s career (a “self-made man” or “self-made woman”). At the same time, such an attitude results in “tensions” between irreconcilable roles or activities undertaken in various spheres of life.
These tensions are depicted in the paper. The author shows different types of neutralization techniques used by organizational leaders to overcome or mitigate these tensions. Eleven neutralization practices have been outlined. These techniques have been identified in the course of the nearly decade-long research into spatial and temporal dimensions of careers of managers and entrepreneurs.
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Irwansyah, Ahmad, and Riko Mappadeceng. "PENGARUH E-SERVICE QUALITY TERHADAP CUSTOMER LOYALTY MELALUI CUSTOMER SATISFACTION PADA TOKO ON LINE BUKA LAPAK." J-MAS (Jurnal Manajemen dan Sains) 3, no. 2 (October 17, 2018): 128. http://dx.doi.org/10.33087/jmas.v3i2.50.
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Along with the development of an increasingly modern era, information technology is growing very rapidly. This is because all information required can be obtained easily and quickly via the internet. The development of the internet today not only serves as a medium of information, but the internet can also be utilized for the benefit of the business as a business online using a service-based website. The website-based services in many of the important components in it to achieve success in business, one of which is the quality of service (E-Service Quality). The company provides e-service quality the higher the customer then it will give rise to customer satisfaction, and in a long period of time will certainly generate customer loyalty. E-service quality is defined as the assessment and evaluation of the quality of the overall service delivery to consumers in a virtual market. Word of satisfaction or satisfaction derived from the Latin "satis" which means good enough, sufficient, and "facio" which means do or make. Contentment is a feeling happy or disappointed someone arising due to compare performance percepted products or results against the expectations of the customer. Customer loyalty or customer loyalty is the commitment of customers to a brand, stores or suppliers based on a very positive trait purchase in the long run. Buka Lapak is one of the shop on line which is currently enough many have customers in Indonesia. Although the Buka Lapak already quite well-established as retailers on line but with a growing number of online stores are popping up then the Buka Lapak need to keep on doing the evaluation in order to remain able to compete with any other online store. From the analysis results can be summed up as that of E-service quality effect directly against customer loyalty, consumers Buka Lapak Indonesia, E-service quality positive effect towards customer satisfaction of consumers Buka Lapak, Indonesia E-service quality to customer loyalty through the customer satisfaction of consumers Buka Lapak Indonesia.
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Asaliev, A. M., A. A. Stepanov, G. I. Avdeenko, and S. G. Dmitriev. "COVID-19 Impact on Social and Economic Development of Regions of the Central Federal District of Russia." Vestnik of the Plekhanov Russian University of Economics 17, no. 4 (July 23, 2020): 48–60. http://dx.doi.org/10.21686/2413-2829-2020-4-48-60.
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The article analyzes the impact of COVID-19 pandemia and caused by it quarantine measures on social and economic development of certain regions of the Central Federal district of the Russian Federation, i. e. Bryansk, Voronezh, Ivanovo, Smolensk and Tula. Special attention is paid to small and medium business. The authors provide findings of the anonymous social survey carried out in the format of on-line questioning in the mentioned regions, which show public feelings in respect of restriction measures and steps of state support for business and relative expectations concerning prospects of regional entrepreneurial activity. The results of the survey showed that small and medium business suffered serious losses as a result of the pandemia. Economy restoration will be slow and long, according to respondents. Business of some respondents was ruined. The authors provide recommendations aimed at minimizing COVID-19 after-effects.
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Olson, Arne, Ren Orans, Doug Allen, Jack Moore, and C. K. Woo. "Renewable Portfolio Standards, Greenhouse Gas Reduction, and Long-Line Transmission Investments in the WECC." Electricity Journal 22, no. 9 (November 2009): 38–46. http://dx.doi.org/10.1016/j.tej.2009.09.010.
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Murphy, Brian, Paul Maguiness, Chris Pescott, Soren Wislang, Jingwu Ma, and Rongmei Wang. "Stakeholder perceptions presage holistic stakeholder relationship marketing performance." European Journal of Marketing 39, no. 9/10 (September 1, 2005): 1049–59. http://dx.doi.org/10.1108/03090560510610716.
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PurposeTo measure marketing performance in a holistic sense.Design/methodology/approachTo augment the prevailing customer relationship marketing paradigm, a holistic stakeholder relationship marketing paradigm is proposed in which holistic marketing performance is reflected in the delivery of long‐term economic, social, and environmental value to customer, employee, supplier, community, and shareholder stakeholders of a business in order to enhance sustainable financial performance. Present stakeholder attitudes are measured in a stakeholder performance appraisal within a stakeholder relationship marketing model, as timely, early warning signals of future stakeholder behaviour and concomitant future business performance.FindingsStakeholder performance appraisal results to date indicate that a holistic stakeholder relationship marketing orientation that incorporates triple bottom line philosophy significantly enhances business financial performance beyond that achieved by a customer relationship marketing orientation.Research limitations/implicationsThe stakeholder performance appraisal has been applied to only 33 businesses to date providing scope for wider application of this measurement system to demonstrate its practical usefulness in measuring holistic marketing performance and future financial performance.Practical implicationsThe stakeholder performance appraisal provides a perceptual overview of holistic marketing performance and concomitant business financial performance from stakeholders in terms of quantitative ratings of economic, social and environmental performance, and qualitative strengths, weaknesses, opportunities and threats. These data enable a business to plan stakeholder relationship marketing strategies to enhance performance and to predict future financial performance.Originality/valueThe stakeholder relationship marketing model and the stakeholder performance appraisal are new, unique, managerially useful additions to existing stakeholder models and metrics.
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Bhattarai, Kumar, and Balaram Pathak. "Street Vending, Income Generation and Poverty Implication: The Case of the Kathmandu Valley, Nepal." Quest Journal of Management and Social Sciences 2, no. 2 (December 15, 2020): 194–205. http://dx.doi.org/10.3126/qjmss.v2i2.33269.
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Background: Street vending, like other informal activities, contributes to employment generation. For many people, it is a source of income and thus has a poverty implication for street vendors.
Objective: The major objective of this study is to analyze the poverty implication of street vending in the Kathmandu Valley, Nepal. The specific objectives are: to measure the net business income of street vendors, to determine factors influencing street vendors’ net business income and to analyze the poverty implication of street vending in the Kathmandu Valley.
Methods: The study was based on the analytical approach, where the net business income of street vendors was measured, factors influencing net business income of street vendors were determined and the potential role of street vending on poverty reduction in Kathmandu Valley was analyzed. Factors influencingnet business income of street vendors were identified by applying regression analysis. For this, cross-sectional data were collected from randomly selected 450 street vendors of five locations of the Kathmandu Valley, i.e. Balaju, Lagankhel, Kalanki, Ratnapark and Suryabinayak. Data were collected using a structured questionnaire.The poverty implication of street vending was analyzed by using the consumption approach, wheremeasurement was done about whetherconsumption ofstreet vendors, which was covered by their net business income, was above the poverty line of the Kathmandu Valley.
Results: Average monthly net business income of street vendors was Rs 22,500. Educational level, experience, sales and working hours per day were the factors influencing net business income of street vendors. 54% ofstreet vendors were found to have consumption above the poverty line which was covered by their net business income. Furthermore, it was found that if respondents were not involved in street vending; only 42% of respondents could have consumption above the poverty line which could be covered by their income from other jobs/professions.
Conclusions: The study concludes that majority of people, who dostreet vendingin the Kathmandu Valley,come from low income family background. Street vending plays an important role to provide employment to the people belonging to socially and economically marginalized groups of the society.However, at the same time, street vendingalso creates problems like overcrowding on the roadsides, environmental pollution due to the generation of wasteduring street vending, and so on. So,the focus should be on shifting street vendors to the formal sectors in the long-term.
Implications: As street vending is a source of income for thousands of socially and economically mariginalized groups and has poverty implications, it should not be viewed just as a problem of the street. If it is managed properly, it contributes tothe livelihood of thousands of people and provides goods and services at a cheaper price to low-income consumers.
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M. Sarah, Radebe. "The benefits of good corporate governance to small and medium enterprises (SMEs) in South Africa: A view on top 20 and bottom 20 JSE listed companies." Problems and Perspectives in Management 15, no. 4 (December 25, 2017): 271–79. http://dx.doi.org/10.21511/ppm.15(4-1).2017.11.
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Good corporate governance has been attributed to many large organizations’ success. From the boardroom to the triple bottom line, it has been hailed as one powerful tool that brought about sustainability of these organizations in this competitive era. While this is beneficial to large organizations, small and medium enterprises (SMEs) can glean on such experiences to add their value to their companies which, in the long run could bring about new markets and improved business practices which can be ground breaking in their daily business dealings. Thus, if with the introduction of the King Report on good governance, competitive advantage is improved, SMEs are in a good position to sustain their businesses in turbulent economic conditions. This article is aimed at exploring the benefits with which good corporate governance can yield to top and bottom JSE listed SMEs in South Africa. A desktop method was used to analyze the financial statements of these SMEs companies with the view to gain understanding on their corporate governance activities and how well they benefit them. The findings show that good corporate governance is beneficial to SMEs.
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Muhamat, Amirul Afif, Mohamad Nizam Jaafar, and Sharifah Faigah Syed Alwi. "General Takaful claims: An experience of Takaful operator in Malaysia." Journal of Emerging Economies and Islamic Research 5, no. 4 (December 31, 2017): 18. http://dx.doi.org/10.24191/jeeir.v5i4.8833.
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Takaful is interchangeably referred as Islamic insurance. In Malaysia, the takaful sector is part of the main components for Islamic finance industry. The business can be divided into two: general and family takaful. To ease understanding on this niche sector; general takaful is comparable to general insurance while family takaful is akin to life insurance with special reference needs to be given on the requirement of the business to adhere to the Islamic precepts. The main business in general takaful is motor takaful and this line of business is faced with high takaful claims. This study appraised the factors which affect the general takaful claims based on the experience of one takaful operator in Malaysia (the name of takaful operator is not disclosed due to confidentiality). The factors are: number of claims; fraud; and coverage for protection. The limitation of this study is that the observation period is only 10 years which limits rigorous analysis to be done. Nevertheless, previous studies in this area depict the same limitation – constraint in gathering data that has long observation period. On the bright side, the data in this study is still capable to produce meaningful results to be referred with regards to this issue – general takaful claims.
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Wibowo, Buddi, Bagus Adhi Luthfi, and Anas Lutfi. "Analysis of Customary Institutions’ Position and Roles in Business Permission Bureaucracy: Case of Bali." MIMBAR, Jurnal Sosial dan Pembangunan 32, no. 2 (December 30, 2016): 382. http://dx.doi.org/10.29313/mimbar.v32i2.1843.
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Uneven investment activities distribution in Bali result in economic disparity which causes not only social tension but also endanger cultural heritage. Preservation of Balinese culture could be threatened if economic and business activities are not managed properly and in line with efforts to preserve the culture of Bali in the long term. This study aims to assess the empirical and normative sociological legal jurisdiction over existing regulations related to economic and business activities in the Province of Bali which can be considered a potential threat to the preservation of Balinese culture and tradition. Based on the problem mapping that is the result of the empirical and normative juridical study, we are able to do the analysis of regulatory and institutional rearrangement of business and investment permission bureaucracy in the Bali province by considering the preservation of cultural and traditional law enforcement in Bali.
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Nadeem, Sadia, and Amna Aziz. "National and Professional: Anchoring High Performance in PTCL." Asian Journal of Management Cases 15, no. 2 (July 5, 2018): 166–83. http://dx.doi.org/10.1177/0972820118780736.
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With the story line of the senior HR leadership team at Pakistan Telecommunication Company Limited (PTCL) gathered to reflect on HR function’s evolution since PTCL’s privatization in 2006 to UAE telecom conglomerate Etisalat Group, this case focuses on PTCL’s journey as this corporate giant went through large-scale structural and cultural changes in an attempt to become more performance-centric. The decade long journey covers major changes, for example, a reduction in the size of workforce from 64,000 to 18,000, a move from annual confidential reviews to a balanced scorecard approach in performance management, adoption of the HR business partner model, and various leadership development initiatives. Overall, the case presents a real-life story of evolution of the HR function from an administrative to a strategic role in a large organization. It allows for an in-depth discussion on the adoption of best practices belonging to the academic framework of high performance work practices (HPWPs), and portrays the effects of Pakistan’s distinct national culture and contextual factors on implementation of HPWPs. The case can also be used to enhance familiarity and awareness of Pakistani national culture in the international academic and business community for future research and business opportunities.
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Melekhova, A. S. "Realizing Strategic Approach in E-mail Marketing." Vestnik of the Plekhanov Russian University of Economics, no. 3 (May 31, 2021): 178–87. http://dx.doi.org/10.21686/2413-2829-2021-3-178-187.
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E-mail marketing in line with context advertising, SMM, SEO-promotion and SERM are tools of digital communication. They provide shaping of stable long-term and regular communication (adjustment, support and retain) with potential and real customers (subscribers) of business, which explains topicality of the research subject. The use of digital information-communication technologies fosters customer base growth and building long-term relations with clients, which forms foundation for business extension and development. The article explains such notions as ‘E-mail marketing’, ‘eDM mail-outs’, ‘strategic approach’, ‘components of strategic approach’, systematizes types of mail-outs, describes specific features of content-plans of different types of mail-outs and gives practical recommendations for their use. Apart from that the author substantiates the idea that e-mail marketing is a promising and widely used trend in advertising and marketing, an effective tool of promotion in conditions of fast changing market environment and that it requires strategic approach to attain the set parameters of efficiency
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Anyanwu, John C. "Stock Market Development And Economic Growth in Nigeria." Vision: The Journal of Business Perspective 2, no. 1 (January 1998): 33–38. http://dx.doi.org/10.1177/09722629x98002001006.
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Is the stock market development important for economic growth in Nigeria? One line of research argues that it is not; another line stresses the importance of stock market development in allocating capital, acquisition of information about firms, easing risk management, mobilization of savings, and exerting corporate control. Indeed, some theories provide a conceptual framework for the belief that larger, more efficient stock markets boost economic growth. This article examines whether there is a strong empirical association between Nigerian stock market development and long-run economic growth. Our empirical results suggest that the Nigerian stock market development is positively and strongly associated with long-term economic growth. This implies that Nigerian policymakers should make concerted efforts at removing obstacles to stock market development while creating and sustaining an enabling macroeconomic and political environment for the market’s development.
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Panța, Nancy Diana. "Arguments in Favor of Moving to a Sustainable Business Model in the Apiary Industry." Studies in Business and Economics 12, no. 3 (December 20, 2017): 159–70. http://dx.doi.org/10.1515/sbe-2017-0043.
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Abstract Today’s society faces major challenges in meeting future global food demands and solving biodiversity loss, and it quickly needs to find ways in addressing these issues. The places to look for solutions come from the economic sectors that employ the most powerful pressure on these issues such as agriculture. Apiculture, as a branch of agriculture is being more and more recognized as sustaining human life and contributing to sustainability. However, the sector records a progressive decline of honey bees. Therefore, a rapid restructuring needs to take place in agricultural markets, in general, as well as in apiary agribusinesses. Although important, technological progress is insufficient in providing the necessary changes to achieve long-term economic, social and environmental sustainability, which should be considered both within and between generations. Consequently, sustainable business models encourage sustainable development through a triple bottom line approach and provide an analytical tool for firms into assessing the different aspects that are combined in order to create value. Since literature has paid little attention to the sustainable development in the apiary agribusiness, the present paper aims to link the two using a business model perspective and bring arguments in favor of moving to a sustainable business model.
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Guenther, David. "Of Bodies Politic and Pecuniary: A Brief History of Corporate Purpose." Michigan Business & Entrepreneurial Law Review, no. 9.1 (2020): 1. http://dx.doi.org/10.36639/mbelr.9.1.bodies.
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American corporate law has long drawn a bright line between for-profit and non-profit corporations. In recent years, hybrid or social enterprises have increasingly put this bright-line distinction to the test. This Article asks what we can learn about the purpose of the American business corporation by examining its history and development in the United States in its formative period from roughly 1780-1860. This brief history of corporate purpose suggests that the duty to maximize profits in the for-profit corporation is a relatively recent development. Historically, the American business corporation grew out of an earlier form of corporation that was neither for-profit nor nonprofit in today’s parlance but rather, served a multitude of municipal, religious, charitable, educational, and eventually business purposes in early nineteenth-century New England. The purposes of early American business corporations—rather than maximization of profit to private shareholders— were often overtly public, involving development of local transportation, finance, and other much-needed economic infrastructure. With the rise of factory-based manufacturing, railroads, and other capital-intensive industries in the middle decades of the nineteenth century and the advent of general incorporation statutes, the purpose of the American business corporation shifted fundamentally from public to private. By 1860, the stage was set for the modern firm. This Article concludes that the corporation has no intrinsic purpose. The corporation’s defining features are separate legal personality and the ability to aggregate capital toward any otherwise lawful end, whether for-profit or nonprofit. Social enterprises today more closely resemble the early American business corporation than the profit-maximizing modern firm. Social enterprise should be seen less as a legally uncertain novelty than a return to the business corporation’s nineteenth-century American roots. Finally, this Article suggests potential limitations for social enterprise.
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Hemming, Sally, Hilary McDermott, Fehmidah Munir, and Kim Burton. "Employer perspectives concerning the self-management support needs of workers with long-term health conditions." International Journal of Workplace Health Management 14, no. 4 (June 22, 2021): 440–58. http://dx.doi.org/10.1108/ijwhm-02-2021-0030.
Full textAbstract:
PurposeLong-term health conditions are a significant occupational and global burden and can undermine people's ability to work. Workplace support for self-management of long-term conditions has the potential to minimise adverse work effects, by enhancing health and work outcomes. No data exist about employers' views concerning supporting workers with long-term conditions to self-manage.Design/methodology/approachThe exploration of employers' views involved recruiting 15 participants with responsibilities for workplace health, well-being and safety responsibilities, who participated in a semi-structured interview about self-management and support. Data were analysed using a qualitative six-stage thematic analysis technique.FindingsSelf-management support is not purposely provided to workers with long-term conditions. Support in any form rests on workers disclosing a condition and on their relationship with their line-manager. While employers have considerable control over people's ability to self-manage, they consider that workers are responsible for self-management at work. Stigma, work demands and line-manager behaviours are potential obstacles to workers' self-management and support.Practical implicationsWorkplace discussions about self-managing long-term conditions at work should be encouraged and opened up, to improve health and work outcomes and aligned with return-to-work and rehabilitation approaches. A wider biopsychosocial culture could help ensure workplaces are regarded as settings in which long-term conditions can be self-managed.Originality/valueThis study highlights that employer self-management support is not provided to workers with long-term conditions in a purposeful way. Workplace support depends on an employer knowing what needs to be supported which, in turn, depends on aspects of disclosure, stigma, work demands and line management.
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Wagner, Oliver, Thomas Adisorn, Lena Tholen, and Dagmar Kiyar. "Surviving the Energy Transition: Development of a Proposal for Evaluating Sustainable Business Models for Incumbents in Germany’s Electricity Market." Energies 13, no. 3 (February 7, 2020): 730. http://dx.doi.org/10.3390/en13030730.
Full textAbstract:
In the light of Germany’s chosen path towards the energy transition, the regulatory framework has changed considerably. New players have succeeded in entering the market, and renewable energies have become increasingly competitive. Greater electrification of the transport and heating sectors will be needed in the future to achieve national climate targets. Against this background, Germany’s big energy companies need to be sure that their sales will increase. However, they were unable to anticipate this development, and made strategic mistakes in the past. The development of sustainable business models in line with the energy transition failed to materialize. Now it is becoming increasingly clear that companies must create new business models to survive in the long term. These business models have to keep with the tradition, whilst meeting the needs of low-carbon power supplies. In this paper, we will examine the past and future challenges of the four energy companies and develop a proposal for evaluating sustainable business models. For this purpose, we use the multi-level perspective to categorize developments in the electricity market over the last 50 years, and then apply a multi-criteria analysis to derive five suitable business models from the results.